Viveks Looking for Private Equity

Viveks consumer durables retailer is looking to raise Rs150 crores by offloading 25% to Private Equity or Venture Capital firms. This values the Viveks retail chain at Rs600 crores. Viveks is in talks with several firms which they declined to disclose.

It is well known that foreign Private Equity(PE) and Venture Capital(VC) firms do not have the license for pure play in Indian Retail sector. Foreign firms can invest in backendjust like Actis which has stake in Nilgiri dairy and not the retail chain.

Viveks has 54 stores in the southern states of Karnataka and TamilNadu and are looking for investments or an IPO to go for PAN-India presence.

India Retail , Consumer Durables , India Shopping